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Money laundering

The process whereby criminal seek to “wash” illicit funds (generally garnered from international terrorism or drug dealing). By moving funds around from country to country, a fraudster´s intention is to conceal the source of the funds and make them appear…

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Money order

An instrument used to remit money to a named payee, often used by parties who do not hold a current account with a banking institution to pay bills or transfer money to another party. There are three parties to a…

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Monopoly

A market with a single supplier for example of telecommunications or energy (gas, electricity).

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Monopsony

A market with a single buyer, for example in certain countries, railway machinery and equipment.

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Most Favoured Nation treatment (MFN)

A non discriminatory trade policy commitment on the part of one country to extend to another country the lowest tariff rates it applies to any other country. All contracting parties to the General Agreement on Tariffs and Trade (GATT) –…

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